How an NRI income will be taxed in India - Income tax and Tax matters
How an NRI income will be taxed in India - Income tax and Tax matters : An NRI must file his income tax return like any other Resident Indian in India if the total gross income received in India is more than Rs. 2.5 Lakh for the provided financial year. An NRI must file his income tax return like any other Resident Indian in India. The residential status of the NRI plays a detrimental role in tax liability for NRIs. If an Individual’s status is Non-Resident, then the income earned only in India will be taxable. Income earned outside India cannot be taxed in India. Interest earned on an FCNR and NRE account is also not taxable. Interest received on NRO accounts will be subject to tax on the part of an NRI.